Overview

• The deal secures $800 million in a mix of cash and stock at closing and up to $200 million more based on Rhode’s performance over three years.
• e.l.f. Beauty arranged $600 million in debt financing to fund the transaction and aims to close in early fiscal 2026.
• Rhode generated $212 million in net sales in the year ending March 31, 2025, on the strength of its direct-to-consumer model and viral product launches.
• Hailey Bieber will stay on as Rhode’s chief creative officer and head of innovation and will also serve as a strategic adviser to e.l.f. Beauty.
• Rhode products are set to launch in Sephora stores across North America and the UK by the end of 2025.